Home > XE Currency Blog > XE Market Analysis: Sterling Steadies Today Having Fallen Over Course of the Week

AD

XE Currency Blog

Topics5566 Posts5611
By xemarketanalysis August 9, 2018 1:56 pm
    xemarketanalysis's picture
    xemarketanalysis Posts: 498
    XE Market Analysis: Sterling Steadies Today Having Fallen Over Course of the Week

    OVERVIEW

    • Sterling steadies near 11-month lows against the US Dollar.
    • US Dollar rises against most major currencies.
    • The Kiwi Dollar slides to 2.5 year low on dovish RBNZ.

    HIGHLIGHT

    Sterling steadied against the US Dollar and Euro, having fallen all week on fears that Britain will leave the EU with no agreement in place.

    US DOLLAR

    The US Dollar rose broadly against major currencies as trade tensions continue. The Dollar was also helped by better than expected US initial jobless claims.

    BRITISH POUND

    The Pound steadied on Thursday and had dropped to near one-year lows against the US Dollar and 10-month lows against the Euro. This move has been driven by increasing fears of a no deal Brexit. 

    EURO

    The Euro remained down against the US Dollar.

    CANADIAN DOLLAR

    The Canadian Dollar has been pressured this week by the diplomatic dispute with Saudi Arabia. However, a Reuters poll showed that expectations are for the Loonie to rise over the coming year considering hikes in interest rates and higher oil prices.

    AUSTRALIAN DOLLAR

    The Aussie Dollar remained steady ahead of Friday's interest rate decision. The Reserve Bank of Australia is widely expected to keep rates on hold.

    FEATURED CURRENCY

    Paste link in email or IM